whose standards & who's poor?

Standard & Poor's fraudulent standards and everybody else is poor.

coming soon

corruption at the ratings agencies is being dug up, by the SEC. FINALLY!

[Schiff discusses this, in the last 4 minutes]

from gobankingrates.com
SEC to Hold Top Credit Rating Agencies Accountable for Role in Mortgage Crisis
Posted in Bonds, Financial News, Investments, Mortgage Rates, Sub Prime Mortgages
June 18, 2011

Civil fraud charges could be filed against several major credit rating agencies for their role in developing mortgage bond deals that helped bring about the financial crisis in 2008. The Wall Street Journal reported on Friday that the U.S. Securities Exchange Commission (SEC) is currently looking at the role these companies played in the crisis and exploring the possibility of holding them accountable.
SEC Reviewing Conduct of Companies

According to the WSJ, the SEC is reviewing the conduct of specific credit rating agencies, including McGraw Hill’s Standard and Poor’s and Moody’s Investors Service owned by Moody’s Corp., in relation to at least two mortgage-bond deals.

The commission is deciding whether the agencies failed to do enough research to be able to adequately rate the pools of subprime mortgages and other loans that underpinned the mortgage bond deals. In May, the SEC went as far as stating publicly that the agencies needed to reveal more about how they judge financial products and how those ratings perform over time.

The WSJ said that a Standard & Poor’s spokeswoman declined to comment about the issue, but a spokesman for Moody’s says that the agency is “uncertain as to what The Wall Street Journal is referring,” but would certainly cooperate with any requests received from the SEC.